Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Home Loans and Investment Lending: Australian Home Loans for June decreased by 1.1% monthly. Economists predicted a flat reading of 0.0% monthly. Forex traders can compare this to Australian Home Loans for May which increased by 1.0% monthly. Australian Investment Lending for June decreased by 2.7% monthly and the Value of Loans decreased by 1.0% monthly. Forex traders can compare this to Australian Investment Lending for May which decreased by 0.1% monthly and to the Value of Loans which increased by 0.7% monthly.
- Chinese Trade Balance: The Chinese Trade Balance for July was reported at $28.05B. Economists predicted a figure of $39.05B. Forex traders can compare this to the Chinese Trade Balance for June which was reported at $41.47B. Exports increased by 12.2% annualized and Imports increased by 27.3% annualized. Economists predicted an increase of 10.0% and of 16.5%. Forex traders can compare this to Exports for June which increased by 11.2% annualized and to Imports which increased by 14.1% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Current Account Balance and Trade Balance: The Japanese Current Account Balance for June was reported at ¥1,175.6B. Economists predicted a figure of ¥1,222.2B. Forex traders can compare this to the Japanese Current Account Balance for May which was reported at ¥1,938.3B. The Japanese Adjusted Current Account Balance for June was reported at ¥1,762.4B. Economists predicted a figure of ¥1,866.7B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for May which was reported at ¥1,850.0B. The Japanese Trade Balance for June was reported at ¥820.5B. Economists predicted a figure of ¥822.0B. Forex traders can compare this to the Japanese Trade Balance for May which was reported at -¥303.8B.
- Japanese Bank Lending: Japanese Bank Lending including Trusts for July increased by 2.0% annualized and Japanese Bank Lending excluding Trusts increased by 2.0% annualized. Forex traders can compare this to Japanese Bank Lending including Trusts for June which increased by 2.2% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.1% annualized.
- Japanese Bankruptcies: Japanese Bankruptcies for July decreased by 1.68% annualized. Forex traders can compare this to Japanese Bankruptcies for June which decreased by 2.26% annualized.
- Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for July was reported at 46.6 and the Japanese Eco Watchers Survey Outlook Index was reported at 49.0. Economists predicted a figure of 48.0 and of 49.8. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for June which was reported at 48.1 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 50.0.
Should price action for the AUDJPY remain inside the or breakdown below the 81.950 to 82.600 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 82.300
- Take Profit Zone: 80.000 – 80.600
- Stop Loss Level: 83.250
Should price action for the AUDJPY breakout above 82.600 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 82.850
- Take Profit Zone: 83.900 – 84.500
- Stop Loss Level: 82.300
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
